Duma approves Nabiullina as Bank of Russia chairperson

Russia’s State Duma, or lower parliament house, on Tuesday approved Elvira Nabiullina as chairperson of the Russian Central Bank. Nabiullina will take office on June 24, 2013 after the office term of her predecessor, current Central Bank governor Sergei Ignatyev expires. As many as 360 lawmakers, member of the United Russia, Liberal Democratic Party factions and some members of the A Just Russian factin, voted in favor of Nabiullina’s candidature, twenty (lawmakers with the Communist Party) were against, and one abstained. Nabiullina was nominated for the post by President Vladimir Putin. Earlier, Putin satisfied Nabiullina’s request to appoint Ignatyev advise to the Central Bank governor, when his term as the Central Bank chairman expires. Elvira Nabiullina was born on October 29, 1963. In 1986, she graduated from the Lomonosov Moscow State University majoring in economics. In 1991–1992, she worked at the directorate of the permanent committee on economic reform of the USSR Research and Industry Union in Moscow. In 1992–1994, she was chief specialist and adviser to the board of the Russian Union of Industrialists and Entrepreneurs, and was adviser to the Union’s expert institute. In 1994-1998, Nabiullina worked her way up from deputy head of the economic reform department of the Russian Ministry of Economics to Deputy Minister. In 1998–2000, she was deputy chairperson of the board of Promtorbank, executive director of the Eurasian rating service, vice president of the Centre of Strategic Developments. In 2000-2003, she was First Deputy Minister of Economic Development and Trade. In 2003–2005, she was president of the Centre of Strategic Developments. In October 2005, Nabiullina was appointed head of the expert council of the steering committee for the preparation of Russia’s presidency in the Group of Eight. In 2006, she became head of the research group of the Centre of Strategic Developments. In September 2007, she was appointed Minister of Economic Development and Trade, and Minister of Economic Development in May 2008. Since May 2012, she has been Russian president’s aide. Ignatyev has been in office since March 20, 2002. For the last time, the State Duma extended his term for another four years on June 24, 2009.